Digital assets platform Zodia Custody has launched Zodia Switch, a service that allows institutional clients to initiate asset-to-asset swaps directly from their secure custodial wallet.
Zodia Switch was built in partnership with cross-asset marketplace LMAX Group, the same firm behind the recent launch of Omnia Exchange, an infrastructure layer that enables the conversion of any asset in real-time with a single application programming interface (API).
Zodia Switch allows mutual clients to switch between supported ERC-20 tokens, such as ETH, wrapped BTC, and stablecoins on demand, without pre-funding their LMAX trading account or moving assets off the platform. LMAX has embedded its infrastructure layer within Zodia’s platform to provide pricing and execution. Clients get to retain full governance, control, permissioned anti-money laundering (AML) screening, and audit trails throughout the whole process.
Filling a gap
Zodia Custody claims in a press release that the new service addresses “a longstanding gap in institutional digital asset workflows” between operational friction and the risk of transferring assets to external liquidity venues simply to adjust exposure or access liquidity. With Zodia Switch, “the speed and flexibility of blockchain is combined with the governance, control, and oversight of bank-signed custody, without Zodia Custody ever acting as a trading venue or counterparty”.
Anoosh Arevshatian, chief product officer at Zodia Custody says, “Clients can now rebalance positions, manage liquidity, and respond to market conditions instantly, all from within their custody environment.”
Jenna Wright, managing director of Digital Assets at LMAX Group describes the service as “the next evolution” in bringing institutional-grade liquidity directly into client environments.
